Bursa Malaysia lower in early trade

At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.07 points to 1,639.34 after opening 0.15 of-a-point easier at 1,644.26, compared to yesterday’s close of 1,644.41. ― Picture by Hari Anggara
At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.07 points to 1,639.34 after opening 0.15 of-a-point easier at 1,644.26, compared to yesterday’s close of 1,644.41. ― Picture by Hari Anggara

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KUALA LUMPUR, Dec 31 ― Bursa Malaysia entered the final day of 2020 lower due to the lack of buying momentum.

At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.07 points to 1,639.34 after opening 0.15 of-a-point easier at 1,644.26, compared to yesterday’s close of 1,644.41.   

Market breadth was negative with losers edging past gainers 244 to 218, while 368 counters were unchanged, 1,291 untraded and 56 others suspended.

Volume stood at 409.42 million units worth RM190.01 million.

In a note today, Malacca Securities Sdn Bhd expects trading interest on the local exchange to be positively skewed, in line with the United States stock markets which had closed marginally higher, coupled with the year-end window-dressing activities.

“Meanwhile, we believe Brent oil price may trade firmer on the back of greater-than-expected oil inventory draw of 6.1 million barrels for the week ended Dec 25.

“Market players may focus on recovery-themed stocks, as more countries allow vaccines for emergency use,” it said in a note today.

Of the heavyweights, Supermax gained three sen to RM6.01, Telekom Malaysia added one sen to RM5.44, while TNB, Petronas Chemicals and IHH Healthcare were flat at RM10.52, RM7.50 and RM5.71, respectively.

Meanwhile, Maybank fell four sen to RM8.53, both Public Bank and Hartalega declined six sen to RM20.64 and RM12.14, respectively, Top Glove and CIMB eased three sen to RM6.09 and RM4.35, respectively, while Maxis shed two sen to RM5.10. 

Of the actives, Solid Automotive added one sen to 25.5 sen, K-One Technology increased 4.5 sen to 38.5 sen, BCM Alliance went up 1.5 sen to 30.5 sen, AT Systematization and Green Ocean were flat at 18.5 sen and 9.5 sen, respectively, while Techna-X inched down half-a-sen to 15.5 sen and Ecobuilt fell two sen to 26.5 sen. 

On the index board, the FBM Emas Shariah Index slipped 25.39 points to 13,249.76, the FBM ACE advanced 28.69 points to 10,664.18, the FBM Emas Index went down 27.22 points to 11,841.96, the FBMT 100 Index shrunk 29.79 points to 11,583.38, and the FBM 70 depreciated 15.95 points to 15,232.81.

Meanwhile, the Industrial Products and Services Index slipped 0.35 of-a-point to 178.57, the Financial Services Index discounted 46.21 points to 15,430.38, and the Plantation Index shed 38.09 points to 7,374.72. ― Bernama

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